WORLD TRADE

Greymouth Evening Star, 16 October 1946, Page 7

WORLD TRADE

PREPARATORY MEETING ABANDONMENT OF “ECONOMIC ARMAMENT" SIR STAFFORD CRIPPS SPEAKS (Rec. 11.15 a.m.) LONDON, Oct. 15. The abandonment of “economic armament” as a step towards the attainment of political security was urged by the President of the Board of Trade, Sir Stafford Cripps, welcoming delegates to the opening session of the Preparatory Commission for the International Conference on Trade and Employment. ' He added that organisation by the United Nations of the Preparatory Commission was • recognition of the fact that there could be no security in peace unless the world could deal internationally with major, social, economic, political—“and I would add religious”—questions. Sir Stafford Cripps several times hearked back to the unemployment, poverty, and misery of the inter-war years as an example of what had to be avoided by the nations in the new effort to plan a better world.. He acknowledged that in the field of economic matters the nations were most sensitive as to political sovereignty.

Planned Economy. “Even those nations which adopted some form of planned economy at home were doubtful about the risks to their interests of planning on an international scale. Manufacturers and producers of raw materials alike, jealous of their own control, are anxious if they can get the best from both worlds—freedom from all restraint and interference on the one hand, and, on the other hand, protection from all the greater difficulties of extreme competition.” He contended that experience showed that unlimited freedom gave the worst, not the best of both worlds. “We surely have experimented _ long enough on the chaotic condition of world trade to take as a startingpoint the need for some organisation, some rules and regulatiqns as between nations relating to their conduct of trade.” “Vicious Circles.” Sir Stafford said there was no need for any delegate to be ashamed of being a stout champion of his nation’s cause. “That is indeed our function,” but, though stout champions, there was no need to. be stubborn champions. The exploitation of unemployment began vicious circles with repercussions throughout the world. <

The Empire delegates saw reference to the Dominions’ attitude to Imperial preference in Sir Stafford Cripps’s comment: “Where two countries or group of countries have accustomed themselves to a particular form of trading, relying on the existing provision in their domestic laws, they will not, of course, be willing to make a change unless they can be assured that alternative outlets will be provided for that trade. If we are going to expand some countries, it must not be at the cost of diminishing trade for others:” The temporary chairman, Mr., A. D. K. Owen, Assistant SecretaryGeneral of the United Nations for Economic Affairs, opening the conference, welcomed the delegates of 17 nations.. He announced that he had received a Note from Russia stating ! that she could not join in at the present stage because she had not yet I been able fully to examine the farI reaching questions which would.be the subject of discussions.